More Jobs, But Fewer Hours and Lower Wages
Small businesses are creating more jobs, but at what cost? A recent survey found that although small businesses now have more employees on the payroll, the employment positions the companies offer are often less desirable than they used to be.
A recent study by Intuit found that 55,000 jobs were created by small businesses in November. The survey, which polled 71,000 businesses with under 20 employees, found that there is a downside to the increase in the quantity of jobs. According the study employees’ hours were decreased and wages were cut. The average work week of workers polled dropped .3% since October to 24.9 hours. In addition the average monthly salary in November was $2,637, down .18% from last month.
Small businesses continue to help the economy by creating employment opportunities, however this past month hours and wages of small business employees declined. Have you noticed a change in your small business. Tune into BIZ TV to learn more about who to hire, how to keep employees satisfied, and more.